Dishman Carbogen Amcis Ltd. · NSE:DCAL
Dishman Carbogen Amcis — Q3 FY2026 Earnings Presentation
27 slides from Dishman Carbogen Amcis's earnings presentation, Feb 4, 2026
Slide 1: Exchange filing cover letter for investor presentation
4th February, 2026 To, To, The General Manager The Manager, Department of Corporate Services Listing Department, BSE Ltd. National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, “Exchange Plaza”, C-1, Block G, Dalal Street, Bandra-Kurla Complex, Mumbai – 400 001. Bandra (E), Mumbai – 400 05
Slide 2: Investor Presentation Quarter ended December 31, 2025
Investor Presentation Quarter ended December 31, 2025
Slide 3: Safe Harbor Statement
This presentation and the following discussion may contain “forward looking statements” by Dishman Carbogen Amcis Limited (‘Dishman’ or the ‘Company’) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, financial
Slide 4: Dishman in a Nutshell
Solving Complex Problems for 23 32 4 250+ Clients Multi-Purpose MANUFACTURING FACILITIES Globally RESEARCH & DEVELOPMENT and HIPO LABS Successful IN-ORGANIC GROWTH TRANSACTIONS DISHMAN IN 4 decades Global Health Authorities Approved & Recognized by CHF 114 M 2,200+ Team Strength Committed Members Em
Slide 5: Historical Performance at a Glance
Revenue from Operations (₹ mn) EBITDA (₹ mn) and EBITDA % EBITDA EBITDA % 19.4% 17.3% 14.3% 15.5% 13.8% 11.0% HISTORICAL 19,120 21,407 24,129 26,158 27,115 20,805 2,743 3,314 3,322 2,865 4,690 4,027 Strong basket of 10 molecules in Late Phase III development. PERFORMANCE FY21 FY22 FY23 FY24 FY25 9M
Slide 6: Agenda
AGENDA 01 02 03 Quarter & Half Company Industry Year Highlights Overview Overview
Slide 7: Quarter & Half Year Highlights
01 01 02 03 Quarter & Company Industry Half Year Overview Overview Highlights
Slide 8: Q3FY26 Result Highlights
NET REVENUE (₹ mn) EBITDA (₹ mn) & EBITDA MARGIN (%) Y +5.5% Yo 20.5% 2 5 .0 % 15.7% 2 0 . % 1 5 .0 % 1 0 . % 6,823 7,198 1,401 1,131 5 .0 % 0 .0 % Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY26 RESULT HIGHLIGHTS SEGMENT WISE REVENUE BREAKUP (₹ mn) 922 901 5,901 6,297 Q3FY25 Q3FY26 CDMO Marketable Molecules 7
Slide 9: 9MFY26 Result Highlights
NET REVENUE (₹ mn) EBITDA (₹ mn) & EBITDA MARGIN (%) +4.3% YoY 19.4% 2 5 .0 % 15.9% 2 0 . % 1 5 .0 % 1 0 . % 3,163 4,027 19,952 20,805 5 .0 % 9MFY26 9MFY25 9MFY26 0 .0 % 9MFY25 9MFY26 RESULT Segment Wise Revenue Breakup (₹ mn) HIGHLIGHTS 2,717 3,301 17,234 17,504 9MFY25 9MFY26 CDMO Marketable Molecu
Slide 10: Consolidated P&L Statement
Particulars (₹ mn) Q3 FY26 Q3 FY25 9M FY26 9M FY25 Income from Operations (Net) 7,198.0 6,823.4 20,805.0 19,951.6 COGS 1,414.8 988.3 2,738.8 3,557.4 Employee Expenses 3,558.8 3,320.8 10,407.2 9,686.3 Other Expenses 1,093.3 1,113.0 3,632.2 3,545.4 EBITDA 1,131.1 1,401.3 4,026.8 3,162.5 EBIDTA Margin
Slide 11: Revenue Breakup Analysis & Margin Breakup Analysis
Revenue (₹ mn) Q3 FY26 Q3 FY25 YoY % 9M FY26 9M FY25 YoY % CDMO 6,297.4 5,901.0 6.7% 17,503.8 17,234.4 1.6% Marketable Molecules 900.6 922.3 -2.4% 3,301.2 2,717.2 21.5% Total Revenue 7,198.0 6,823.3 20,805.0 19,951.6 REVENUE Total Operating Revenue – Q3 FY26 Total Operating Revenue – 9M FY26 BREAKUP
Slide 12: Q3 & 9MFY26 Result Highlights
Ø Net Revenue at Rs.7,198 mn in Q3FY26 up by 5.5% as compared to Rs. 6,823 mn in Q3FY25 mainly due to higher revenue from CDMO segment. Ø Net Revenue at Rs.20,805 mn in 9MFY26 up by 4.3% as compared to Rs. 19,952 mn in 9MFY25 mainly due to higher Cholesterol and Vitamin D analogues revenue contribut
Slide 13: ADC & Bioconjugation Business
1.1 1.1 02 03 ADC & BICONJUGATION Company Industry Overview Overview BUSINESS
Slide 14: ADC & Bioconjugation Integrated Business at CGAM / DCAL
BIO-CONJUGATION Services DL/BDS/DP GMP-manufacturing Process Transfer/development/validation ICH Stability QC&A Transfer/development/validation End-to-end RA support ADC & Bioconjugation Integrated DL BDS DP Business at Drug Linker* Bulk Drug Substance Drug Product GMP-manufacture GMP-manu
Slide 15: ADC & Bioconjugation Integrated Business at CGAM / DCAL
ADC & Bioconjugation Integrated Client base is from small biotech up to Business at the biggest pharma companies 30% Successful collaboration CGAM / DCAL success rate so far agreements with start-up companies More alliances with potential Dozens of quotes partners under discussions for multiple (Sec
Slide 16: Company Overview
02 02 01 03 Company Quarter Industry Overview Highlights Overview
Slide 17: About Us
Established in 1983, Dishman Carbogen Amcis Limited is a fully integrated CDMO (Contract Development and Manufacturing Organisation) company with strong capabilities right from process research & development to late stage clinical and commercial manufacturing and supply of API to innovator pharmaceu
Slide 18: Key Strengths
Preferred global Upfront investment of outsourcing partner with more than ₹10,000 mn in capabilities across the large scale multi-purpose KEY entire CDMO value chain KEY manufacturing capacities STRENGTHS STRENGTHS Strong chemistry skills The HIPO facility at Bavla, India is one of the largest HIPO
Slide 19: Manufacturing Facilities & Robust R&D Capabilities
Superior Chemistry Skills & Capabilities Facilities are approved by recognized health agencies: USFDA, MEB, SWISS MEDIC, ANSM, WHO, MFDS, PMDA, NMPA 32 dedicated R&D labs with multiple shift R&D operations, including HIPO labs 25 multi-purpose facilities at CARBOGEN AMCIS BV., Veenendaal, The CARB
Slide 20: One of the Preferred Global Outsourcing Partners
CLOSE PROXIMITY LARGE SCALE INTEGRATED ACROSS STRONG CHEMISTRY TO CLIENTS WITH MANUFACTURING THE VALUE CHAIN CAPABILITIES GLOBAL PRESENCE CAPACITIES ONE OF THE PREFERRED Integrated CDMO Player present along the entire value chain from building blocks to commercialization and product launch stage GLO
Slide 21: Integrated CDMO Player
From Pre-clinical Development To Global Commercial Launch – All Under One Roof Integrated CDMO Player – Strong Capabilities across Value Chain Drug substance & Drug product Pre-clinical Phase I Phase II Phase III Market Early Stage Late Stage Commercial Supply Process Research and API supply to Proc
Slide 22: Cutting Edge HIPO Capabilities
The HIPO facility at Bavla, India, is one of its kind facility in the world and is one of the largest facility in Asia. The facility has a sound mix of Kilo lab and full-scale manufacturing units to cater to both small volume and large volume orders. State of the art containment services, with al
Slide 23: Industry Overview
03 03 01 02 Industry Quarter Company Overview Highlights Overview
Slide 24: Top 20 Therapy Areas (US$ bn) - 2029
Oncology & Obesity expected to lead growth 5-Yr CAGR 2024-2029 Oncology 441 11-14% Diabetes 259 6-9% Expected Immunology Cardiovascular 119 234 4-7% 0-3% Top 20 Therapy Areas (US$ bn) - 2029 CNS 109 6-9% Global Respiratory Other endocrine… 96 108 5-8% 5-8% Infectious diseases 80 Spending by Oncolo
Slide 25: Specialty medicines share of spending
Specialty medicines will represent about 46% of global spending in 2029 and 56% of total spending in developed markets 54% 51% 45% 46% Specialty 42% 38% 36% medicines 35% 33% 31% 27% share of 24% 18% spending 11% 14% 8% 2014 2019 2024 2029 Pharmerging Other Developed Global 10 Developed Source: IQVI
Slide 26: Shareholding Pattern
NSE Ticker DCAL BSE Ticker 540701 Dec Share Price (₹)^ 247.59 2025 Market Cap (₹ Mn)^ 38,818 Shareholding % Free Float^ 40.68% Pattern Free float market cap (₹ Mn)^ 15,790 Shares outstanding^ 15,67,83,095 PROMOTER 59.32% 3M ADTV (Shares) 2,64,729 DII 1.27% FII 7.66% 3M ADTV (₹ Mn) 69 Others 31.75% I
Slide 27: Thank you
Thank you FOR FURTHER QUERIES Arpit Mundra | Krishna Patel Mr. Harshil Dalal Ernst & Young LLP Global CFO Email: arpit.mundra@in.ey.com Email: harshil.dalal@dishmangroup.com krishna.patel2@in.ey.com Dishman Carbogen Amcis Ltd Dishman Corporate House Iscon-Bopal Road, Ambli Ahmedabad – 380058 Gujarat
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